In a report released today, Darren Aftahi from Roth Capital maintained a Buy rating on Veritone (VERI – Research Report), with a price target of $10.00. The company’s shares closed yesterday at $6.37.
Aftahi covers the Technology sector, focusing on stocks such as Argo Blockchain, Digital Turbine, and Shopify. According to TipRanks, Aftahi has an average return of 9.6% and a 32.98% success rate on recommended stocks.
Currently, the analyst consensus on Veritone is a Moderate Buy with an average price target of $7.80.
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Based on Veritone’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $37.2 million and a GAAP net loss of $4.89 million. In comparison, last year the company earned a revenue of $22.66 million and had a GAAP net loss of $11.49 million
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Veritone, Inc. engages in the provision of artificial intelligence (AI) computing solutions to media and entertainment, government, and legal and compliance industries. It operates through the following segments: Advertising; aiWARE SaaS Solutions; and aiWARE Content Licensing and Media Services. The Advertising segment places advertisements for clients, primarily with radio broadcasters, podcasters and digital media producers. The aiWARE SaaS Solutions segment offers solutions through a combination of its direct sales force and indirect channel partners such as value-added resellers (VARs), distributors, system integrators, managed services providers, and referral partners. The aiWARE Content Licensing and Media Services segment sells and markets activities relating to its digital content licensing services business through its direct sales force. The company was founded by Chad Steelberg and Ryan Steelberg in 2014 and is headquartered in Costa Mesa, CA.
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